Vistar Media, the leading global provider of programmatic technology for digital out-of-home, today announced a Series B funding round of $30M from Lamar Advertising Company (Nasdaq: LAMR).
The investment reflects Lamar and Vistar’s belief that technology will be the driving factor behind an accelerated growth rate for the out-of-home (OOH) industry at large. With the adoption of programmatic now widespread, Vistar is focused on helping digital signage networks transition beyond automation to true revenue management, while enabling buyers to leverage data to drive all media decisions and prove ROI through accurate measurement toward all KPIs.
“We are thrilled to have this vote of confidence from one of the most successful and respected companies in out-of-home, and to have the means to double-down on what Vistar is known for: innovation that drives substantive results,” said Michael Provenzano, CEO and Co-Founder of Vistar Media.
The investment by Lamar builds on its eight-year partnership with Vistar, during which Lamar’s close collaboration with Vistar helped successfully develop Lamar’s programmatic channel. According to the terms of the deal, Lamar will gain a minority equity stake in Vistar and a seat on Vistar’s Board of Directors. Vistar will continue to operate as an independent technology partner to buyers and sellers across the global OOH ecosystem.
“Programmatic technology and continued innovation in digital signage software will fuel success for the entire out-of-home industry, and Vistar has a proven track record of building both technology and relationships that deliver value to the full ecosystem of buyers and media owners,” said Sean Reilly, CEO of Lamar Advertising. “By providing capital to a clear leader in the space, Lamar is investing in the future of our industry and the next evolution of our compelling media channel.”
Vistar plans to use the funding to fuel product innovation, accelerate international expansion and strengthen the balance sheet.
Vistar’s software powers some of the world’s most advanced digital signage networks, including Coinstar, GSTV, Octopus, Pursuant Health, Redbox, Topgolf, Vibenomics, Volta and Zoom Media. Through Vistar’s device and content management software, Cortex, and the Vistar ad server, these networks control all on-screen experiences, monitor and troubleshoot network operations.
Vistar’s full suite of tools allow digital signage networks to optimize yield across all direct and programmatic revenue streams. The Vistar supply-side platform (SSP) provides access to all leading sources of programmatic OOH demand, including omnichannel demand-side platforms (DSPs) such as Verizon Media, MediaMath, Amobee and Adelphic and exclusive connection to the Vistar DSP.
The Vistar DSP is the trusted platform for programmatic and digital teams at the world’s largest agencies and a long-term complementary partner to OOH groups. Focused on delivering the most sophisticated forecasting and data-driven planning tools, Vistar has forged partnerships with leading experts such as Adsquare, Dynata, Environics Analytics, Foursquare, IBM Watson Advertising, IHS Automotive, IRI, LiveRamp, MFour and many more.